Yes, fully agreed. Banks make more with higher interest rates. With low rates, they are forced to venture into risky business, in order to increase their earnings, so their exposure to sudden and huge losses are higher, which is what we had been seeing in the recent past. BAC was among the first to learn its lesson, so they are less adventurous and more risk wary, which is why we can't expect great results from BAC. They are trying to shed their costs and create new revenue streams but there's still a limit to how much they can make, given the low interest rates.

Moynihan should be fired! Settled for a cost if 50 billion,destroyed the mortgage business, and now wants to rebuild it! It takes 5 months or longer to refi a BAC loan!He is terrible CEO....we need a builder of revenue not a lawyer who has no clue !

Yes, he should be sent packing, with his tail between his legs. His fear of the adverse has led him to be uninspiring and unwilling to move BAC along. They will plod along and nothing much will happen, except with continuing low results.